The maritime industry has already recognized the significance of digitizing trade. It is keen to adopt electronic bills of lading (eBLs) because of their many benefits, including paperless operations, faster processing, cost savings, and enhanced security.

Let’s Take a look at the significant commitments and regulatory shifts in the maritime industry in 2023 as it embraced digitalization. Just, consider what lies ahead for the coming year!

• In February, nine leading ocean carriers made a commitment to achieving 100% eBL adoption by 2030.
• In July, the United Kingdom passed the eTrade Documents Act, bestowing a legal framework for using eBLs.

• Following the UK law, The ICC, Digital Standards Initiative, declares its efforts towards acknowledging electronic trade documents officially.
•  In September, the Federation of International Trade Associations (FIATA) issued a Declaration of the Electronic Bill of Lading, voicing its support for the widespread adoption of eBLs.

These milestones demonstrate the accelerated the shift towards digital trade. These changes are good for businesses of all sizes, empowering them to increase efficiency, trim costs, and gain a competitive edge.

Why customers choose WaveBL

As customers are looking for ways to grow and evolve in sync with the digital global trade expansion, WaveBL is at the forefront expertly navigating the latest development and changes. At WaveBL, we are committed to being your flexible partner for success by offering tailored solutions to meet your evolving needs.